SS&C GlobeOp Forward Redemption Indicator notifications at 1.78 per cent in January
The SS&C GlobeOp Forward Redemption Indicator for January 2021 measured 1.78 per cent, down from 3.95 per cent in December.
"SS&C GlobeOp's Forward Redemption Indicator for January 2021 of 1.78 per cent reflects lower redemption notices than the 2.26 per cent reported a year ago," says Bill Stone, Chairman and Chief Executive Officer, SS&C Technologies. "This reduction in redemptions marks the seventh consecutive month of year-over-year improvement and is the lowest level of redemptions for any month of January since the inception of the Forward Redemption Indicator in 2008. Hedge fund asset retention has been generally strong since the COVID-19 outbreak and this month's result clearly continues that trend."
The SS&C GlobeOp Forward Redemption Indicator represents the sum of forward redemption notices received from investors in hedge funds administered by SS&C GlobeOp on the SS&C GlobeOp platform, divided by the AuA at the beginning of the month for SS&C GlobeOp fund administration clients on the SS&C GlobeOp platform. Forward redemptions as a percentage of SS&C GlobeOp's assets under administration on the SS&C GlobeOp platform have trended significantly lower since reaching a high of 19.27 per cent in November 2008. The next publication date is 22 February, 2021.